Macquarie Group has begun processing payments to collapsed broker MF Global Australia clients who sold their claims to the bank’s debt trading team.

The MF Global Australia Clients Support Group told members late on Friday night that some of the 11,000 clients had received part of their money back, via Macquarie, a first for Australian clients. MF Global entered administration on October 31.

The update was based on information Macquarie provided the client support group.

Macquarie offered to pay 75¢ in the dollar for futures accounts and between 65¢ and 75¢ for contracts for difference (CFD) claims for clients who had aggregated balances of $100,000 or more.

MF Global Australia was a key CFD provider and the largest participant in the domestic futures market before it collapsed, owing local clients about $310 million.

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Administrator Deloitte has recovered about $240 million so far but it is likely to be months before any money is returned to clients by the liquidator due to protracted legal proceedings

Some clients who had their accounts frozen elected to sell their claims to distressed debt buying companies, to gain liquidity and resume trading.

Offshore firms that have pitched offers to buy client claims include UBS, CRT Special Investments, the Seaport Group and Contrarian Capital.

They have generally offered to pay clients between 70¢ and 80¢ in the dollar.

Macquarie and Deloitte did not provide details of the number or value of claims that had been transferred, when contacted by The Australian Financial Review yesterday.

However, a source close to the process said only a handful of client claims transfer forms had been submitted to Deloitte, implying there had not been any wide-scale payment to clients.

Macquarie could hold the client debt and make a profit on the difference between the price it paid and the payout from Deloitte expected later this year.

It could also choose to trade the claims in the secondary market in the US, where distressed debt buying companies have been trading the claims of MF Global clients from around the world.

Clients of MF Global entities in the US, Canada, Singapore and the UK have already been paid out a large portion of their money through compensation funds and insurance pools. These schemes do not operate in Australia.

For the majority of local clients who are prepared to wait for Deloitte to return their money, a court case is scheduled to begin on June 26 to determine how the return of client funds will occur.

However, it is likely to be some months before money is paid out.

Deloitte has asked buyers and sellers of client claims to use a template transfer form it has ­developed.

But some offshore companies are resisting using the standardised documentation, arguing it is too complex and not necessary.

Deloitte has warned clients to obtain independent advice before selling their positions to third parties, a process that could begin as early as this week.

The firm has set a standard fee of $2500 (plus GST) for each account ­transferred.

It has said the fee was necessary to recover the associated legal and labour costs, so other clients were not left worse off.